FinTech news in joseph lubin category

Led by Gavin Wood, co-creator of Ethereum and its founding CTO, Parity’s partnership with Watr is designed to co-develop the Watr protocol and key applications, and execute joint R&D on the functionality required to make the platform perform for the $17 trillion dollar commodities industry. Omar Elassar, global head of Ecosystem Growth & Business Development at Parity Technologies, said in a statement: This collaboration will bring Watr’s deep commodities’ expertise to the Polkadot ecosystem and kick-start a platform for web3-enabled solutions that solve pressing industry issues. We covered how the Watr Foundation, a Swiss-registered foundation created by experience commodities founders, plans to do this via the use of blockchains, incorporating the technology into commodities trading. We are thrilled to have the legendary team at Parity join us and our existing partners in enabling commodities’ transition to Web3 business models and liquidity while safeguarding the security and decentralized ethos of a public blockchain servicing both retail and regulated institutional users.

This has pushed some founders to build competing blockchains on entirely unique infrastructure, while others in the developer community are focusing their resources on building modular blockchain solutions that sit on top of Ethereum, bundling transactions faster and cheaper while keeping a record of the movements on the central chain.

Many crypto detractors contend that the web3 space is buoyed by meme money, so Coatue leading a $69,420,000 Series B in a blockchain startup shouldn’t leave them too surprised. The investment — made in crypto analytics platform Dune Analytics — brings the startup valuation to $1 billion.